Unicorn Forex Broker – legit or scam?

  • This topic has 5 replies, 2 voices, and was last updated 3 weeks ago by Leo.
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  • #181098 Reply
    Cora35

      Hey people

      I’m looking for some information around a company called Unicorn Forex Broker. This is they – https://unfxb.com/. What I really want to know is are they well known in the trading world and can I trust them.

      They are doing a $3000 deposit bonus so I’m thinking about signing up.

      I appreciate any information people have about thewm.

      Cora

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      • #181108 Reply
        James Barra
        Moderator
          DayTrading.com Team

          Hi Cora35,

          Thank you for your message.

          Our team have evaluated Unicorn Forex Broker, or UNFXB, and would exercise caution before depositing funds.

          The reasons we have concerns are as follows:

          • Unicorn Forex Broker is registered offshore with ‘red tier’ regulators (financial bodies with a reputation for lax investor safeguards), notably the Financial Services Authority of Saint Vincent and the Grenadines (FSA).
          • Unicorn Forex Broker is not well-known in the online trading industry, especially compared to well-established, highly-trusted brokers like IG and Interactive Brokers.
          • While it’s true Unicorn Forex Broker offers a bonus of up to $3000, I read the terms and conditions and these funds cannot be withdrawn. It’s also worth calling out such incentives are banned in many tightly regulated trading jurisdictions.
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        • #181110 Reply
          Steve

            I’ve never used this company but wouldn’t for the reasons James has already outlined. I would stick to the bigger, better known and more regulated trading firms.

            Reply
          • #181299 Reply
            Eddie

              Never heard of this company in my life which is worry enough. Also ‘Unicorn Forex Broker’, is that a real name for a serious trading platform?

              Reply
            • #181348 Reply
              Christian Harris
              Participant

                Never heard of them. Be careful.

                Reply
              • #181454 Reply
                Leo

                  I just looked at them and I would not be depositing any cash with these guys. You basically need to deposit thousands to get spreads you can get at loads of brokers for a fraction of the investment.

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